Thailand eager for Australian investment

Australian investment into Thailand stands at paltry figures compared to neighbouring ASEAN-member nations, prompting a recent visit from Thailand’s Board of Investment (BOI) to Down Under.

“I don’t know why Australians don’t have so much investment in Thailand,” Ajarin Pattanapanchai, senior adviser at the BOI, who is on an investment push to Australia, was quoted in The Australian.

“It is something that I would like to work on. I think Thailand has shown itself to be a very open country, with an ease of doing business.”

Australian foreign direct investment into Thailand amounted to half that of Indonesia, Malaysia and the Philippines last year, measuring just $2.1 billion, which is just one-tenth of the $21.3 billion Singapore plowed into the country.

Attracting knowledge-based, value-added and hi-tech companies to help develop Thailand’s agriculture and food industries was the top goal on Pattanapanchai’s agenda in Australia.

As the second largest economy in the ASEAN bloc, Thailand has been identified as an attractive location for regional offices of companies investing in newly opened Myanmar, says Simon Makinson, vice-chairman of the European Asian Business Centre.

Additionally, Thailand’s strategic location at the center of the Greater Mekong Region makes it a promising base for accessing Cambodia, Laos and Vietnam.

Pattanapanchai also pointed to Thailand’s automobile part supply chain as a precedent that Thailand has the capability of providing a similar model for Australian agriculture and food processing.

Australian investment into Thailand stands at paltry figures compared to neighbouring ASEAN-member nations, prompting a recent visit from Thailand’s Board of Investment (BOI) to Down Under.

“I don’t know why Australians don’t have so much investment in Thailand,” Ajarin Pattanapanchai, senior adviser at the BOI, who is on an investment push to Australia, was quoted in The Australian.

“It is something that I would like to work on. I think Thailand has shown itself to be a very open country, with an ease of doing business.”

Australian foreign direct investment into Thailand amounted to half that of Indonesia, Malaysia and the Philippines last year, measuring just $2.1 billion, which is just one-tenth of the $21.3 billion Singapore plowed into the country.

Attracting knowledge-based, value-added and hi-tech companies to help develop Thailand’s agriculture and food industries was the top goal on Pattanapanchai’s agenda in Australia.

As the second largest economy in the ASEAN bloc, Thailand has been identified as an attractive location for regional offices of companies investing in newly opened Myanmar, says Simon Makinson, vice-chairman of the European Asian Business Centre.

Additionally, Thailand’s strategic location at the center of the Greater Mekong Region makes it a promising base for accessing Cambodia, Laos and Vietnam.

Pattanapanchai also pointed to Thailand’s automobile part supply chain as a precedent that Thailand has the capability of providing a similar model for Australian agriculture and food processing.

You can also visit the site below for a copy of the presentation you mentioned.

I think Australians are still thinking of Thailand as a holiday destination rather than an investment one. Politics might be in play but in recent history, all parties have proved to be pro investment –> create jobs –> win votes.

The Australian Ambassador to Thailand and the head of Austrade at our BKK embassy also recently concluded a round of presentations in Australian capital cities. Ambassador Wise noted, in his address, quite a number of factors – mostly misconceptions about Thailand – which had contributed to the trade imbalance. A copy of his address is most probably available via google searching or from DFAT.